of customers recommend VVO Group as a landlord
The rents for 68 per cent of our apartments are market-based. Rents for market-based rental properties are determined on the basis of markets and cost development.
VVO determines its market-based rents so as to support the sustainable growth objectives. During the financial year, the national average rent for market-based Lumo apartments was EUR 13.72 per sq m per month. Water and broadband are included in the rent.
Average period of tenancy in years
VVO Group’s rent trends are predictable. The Group determines maximum rent increases in accordance with its rental practice. The criteria for determining rents are discussed and approved annually by the Board of Residents and at regional economic theme evenings organised by the residential management.
VVO Group offers rental housing in growth centres, in areas where demand is high. Sound financial management, systematic property maintenance, and preventative repairs facilitate predictable rent trends. The construction of new properties and the acquisition of existing ones increase the supply of rental housing in the areas with strongest demand.
A good customer experience, encompassing easy and effortless service, is the guiding principle behind VVO Group’s operations.Dialogue with residents and close cooperation with residents’ associations increase safety and comfort.
|Income taxes 22.1||22.1|
|Property taxes 9.9||9.9|
|Transfer taxes 1.1||1.1|
|Employer contrubutions 4.3||4.3|
|VAT not remitted included in investments 25.6||25.6|
|VAT not included in other procurements 25.8||25.8|
|VAT remitted 3.5||3.5|
|Withholding tax for fees 6.1||6.1|
According to the annual client satisfaction survey, tenant satisfaction has remained high. According to the 2015 client satisfaction survey, nearly 90 per cent of our clients have recommended or would recommend VVO Group as a landlord. Tenants are satisfied with, among other things, customer service, the location of apartments, improved property maintenance, online services and the small rental deposit. VVO Group uses the results of the tenant satisfaction survey to continuously develop its operations. In 2015, we developed pioneering housing services that increase the flexibility and the sense of community in housing and paid particular attention to property maintenance. In 2015, the net promoter score was 38 (New tenant survey).
Our customer relationships are long: the average period of tenancy in our rental homes is 5.9 years.
VVO Group manages and develops its properties through long-term investments, cost-efficient maintenance and repairs. Our focus is on ensuring that the value of our property portfolio increases and that our properties are available for rent. In 2015, client satisfaction with maintenance services improved and the property management quality control system (Laaki) score rose.
VVO is strengthening its balance sheet by developing and steering its financial and property portfolio management. VVO Group invests in risk management, leadership and expertise, and in enhancing our capacity for innovation.